MTN Group reports 47.4 billion rand annual profit
The South African telecoms operator reported a 47.4 billion rand annual profit following a loss last year. Strong growth in Nigeria and Ghana drove the result.
MTN GROUP LTD has reported a substantial return to annual profitability, underpinned by strong operational results from its key regional markets. The telecommunications provider, which is headquartered in South Africa, posted a profit before tax of 47.4 billion rand, or approximately $2.81 billion, for the latest fiscal year.
The group's performance represents a major turnaround from the previous year, when it recorded a restated loss before tax of 4.1 billion rand. This recovery was primarily fueled by the success of its subsidiaries in Nigeria and Ghana, which remain critical drivers of the group's overall revenue.
Reflecting this improved financial position, the board has declared a final dividend of 500 cents per share, marking a 45% increase. This decision highlights the group's commitment to shareholder returns as it stabilizes its earnings across its African footprint.
